In an initiative to mark World Tourism Day, Axis Bank it set to engage more than 5,000 customers and recognise around 1,000 entrepreneurs and businesses as part of a nationwide outreach programme for the tourism and hospitality sector, the private sector lender said on September.
The bank is organising a tourism and hospitality-focused edition of its flagship MSME knowledge-sharing platform, Evolve, in Goa, news agency PTI reported.
The event is set to bring together entrepreneurs, industry stakeholders and experts from the sector to examine changing traveller preferences, emerging business opportunities and the evolving needs of enterprises operating across tourism and hospitality.
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Axis Bank said the initiative will take forward its engagement with businesses across the tourism and hospitality value chain through sector-specific financial solutions and partnerships with industry bodies.
The bank recently partnered with the Travel and Tourism Association of Goa (TTAG) and introduced a dedicated Hotel and Hospitality Programme under its MSME portfolio.
The Evolve platform has, since its launch, brought together more than 10,000 entrepreneurs across over 50 cities. It provides a platform for business leaders, industry specialists and banking professionals to exchange ideas, discuss business practices and share sector knowledge.
Vijay Shetty, Group Head-Commercial Banking Group, Axis Bank, said tourism and hospitality enterprises have an economic impact that extends beyond individual businesses. According to him, these enterprises contribute to employment, encourage entrepreneurship and support economic activity in local communities.
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The bank said tourism contributes 5.22% to India's economy and accounts for 13.34% of total employment.
The sector is also undergoing a shift in demand, driven by rising domestic travel and better connectivity, Axis Bank said. Consumer interest is expanding across several segments, including wellness, heritage, weddings, experiential travel and spiritual tourism.
The changing travel landscape is creating opportunities for businesses across the wider tourism and hospitality value chain, from accommodation and food services to travel-related enterprises and experience-led offerings.
Through its sector-focused outreach and the Evolve platform, Axis Bank is seeking to deepen engagement with businesses as their requirements evolve. The Goa event will provide a forum for entrepreneurs and industry stakeholders to discuss these changes while sharing insights and business practices.
The nationwide initiative will combine customer engagement with recognition of entrepreneurs and businesses operating in the sector, as the lender seeks to strengthen its presence among India's tourism and hospitality enterprises.
